Public Sector Pension Investment Board Has $17.12 Million Stock Holdings in Balchem Corporation (NASDAQ:BCPC)

Key Points

• The Public Sector Pension Investment Board increased its stake in Balchem Corporation by 27.3%, owning approximately 103,100 shares valued at $17.12 million at the end of the first quarter.
• Balchem reported earnings of $1.27 per share for the most recent quarter, surpassing analyst expectations and indicating a 9.1% increase in revenue year-over-year.
• Analysts projected bullish ratings for Balchem, with HC Wainwright adjusting its target price to $189.00, while Wall Street Zen downgraded it from a "buy" to a "hold" rating recently.

Public Sector Pension Investment Board lifted its holdings in shares of Balchem Corporation (NASDAQ:BCPC - Free Report) by 27.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 103,100 shares of the basic materials company's stock after buying an additional 22,090 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Balchem worth $17,115,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Geneva Capital Management LLC lifted its stake in Balchem by 1.4% in the 1st quarter. Geneva Capital Management LLC now owns 830,813 shares of the basic materials company's stock valued at $137,915,000 after purchasing an additional 11,067 shares during the last quarter. FMR LLC lifted its stake in Balchem by 16.0% in the 4th quarter. FMR LLC now owns 576,994 shares of the basic materials company's stock valued at $94,047,000 after purchasing an additional 79,499 shares during the last quarter. Northern Trust Corp lifted its stake in Balchem by 9.5% in the 4th quarter. Northern Trust Corp now owns 407,054 shares of the basic materials company's stock valued at $66,348,000 after purchasing an additional 35,152 shares during the last quarter. Congress Asset Management Co. lifted its stake in Balchem by 12.9% in the 1st quarter. Congress Asset Management Co. now owns 358,500 shares of the basic materials company's stock valued at $59,511,000 after purchasing an additional 40,890 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in Balchem in the 1st quarter valued at about $47,214,000. 87.91% of the stock is currently owned by institutional investors and hedge funds.

Balchem Trading Down 0.3%

Shares of BCPC stock opened at $158.88 on Tuesday. The firm has a 50 day moving average price of $159.03 and a two-hundred day moving average price of $162.12. The company has a quick ratio of 1.57, a current ratio of 2.64 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $5.16 billion, a PE ratio of 36.44, a price-to-earnings-growth ratio of 3.40 and a beta of 0.88. Balchem Corporation has a 12-month low of $145.70 and a 12-month high of $185.96.

Balchem (NASDAQ:BCPC - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.02. The firm had revenue of $255.47 million during the quarter, compared to the consensus estimate of $250.31 million. Balchem had a net margin of 14.48% and a return on equity of 12.41%. The business's revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the business posted $1.09 earnings per share. As a group, analysts predict that Balchem Corporation will post 4.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on BCPC shares. HC Wainwright reiterated a "buy" rating and issued a $189.00 target price (up from $180.00) on shares of Balchem in a research note on Monday, August 4th. Wall Street Zen downgraded shares of Balchem from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th.

Balchem Company Profile

Balchem Corporation develops, manufactures, and markets specialty performance ingredients and products for the nutritional, food, pharmaceutical, animal health, medical device sterilization, plant nutrition, and industrial markets worldwide. It operates through three segments: Human Nutrition and Health, Animal Nutrition and Health, and Specialty Products.

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